NEW JERSEY — GE Real Estate has provided $105 million in refinancing for nine New Jersey properties that belong to Denholtz Associates. The portfolio includes Class B properties that range from 33,000 to 166,000 square feet and total more than 1 million square feet of space. In addition, the facilities are located throughout six submarkets.
Office
MIAMI— Bala-Cynwyd, Pa.-based Keystone Property Group and Coral Gables, Fla.-based Colliers Abood Wood Fay have acquired Dadeland Towers North, a 244,176-square-foot, three-building suburban campus-style office complex in Miami, from Boston-based Cabot Investment Properties, for $41 million. The complex is situated on 4.6 acres, west of Highway 1, and includes a 150,497-square foot, 8-story building; a 80,983-square foot, 7-story building; and a 12,696-square-foot, two-story building. Major tenants include Burger King; Independent Purchasing Corp.; City College; and Quintairos, McCumber, Prieto & Wood law firm. Christian Lee, Charles Foschini and Christopher Apone of CB Richard Ellis’ Miami-Downtown office represented the seller. The buyers were represented in-house.
SLIDELL, LA. — New Orleans-based Downtown Development Group and Calif.-based OceanView Development are planning Century Park, a $20 million, 62,000-square-foot Class A office and retail complex in Slidell. The project is situated on 2.4 acres along the Interstate 10 service road and Fremeaux Interchange at Highway 190. Construction of the LEED-certified buildings will begin this summer and be completed in three phases: Phase 1 features a 12,000-square-foot two-story office building, which will be completed this winter; Phase 2 includes a 14,000-square-foot one-story retail center featuring restaurants retail and banking; and Phase 3 features a 36,000-square-foot office building. New Orleans-based Steven J. Finegan Architects designed the project.
PENDELTON, IND. — Coldwell Banker Commercial dba Realty Service has arranged the purchase of a 120,000-square-foot office property, located at 600 Corporate Dr. in Pendelton, $5.9 million. The building is situated on 20 acres, and features 10,000 square feet of warehouse storage space. Thomas Willey and Kurt Mathewson of Coldwell Banker Commercial’s Indianapolis office represented the buyer, Tower Pendelton LLC. Zane Brown of CB Richard Ellis represented the seller, Guide Corp.
BILLERICA, MASS. — KBS Real Estate Investment Trust has acquired Rivertech Park in Billerica for $45.2 million. The 285,772-square-foot park, which is located along the Route 3 corridor, contains two twin office buildings that are 100 percent leased. Nuvera Fuel Cells leases Rivertech I, a 110,684-square-foot office facility, and Entegris leases Rivertech II, a 175,088-square-foot building. The seller was undisclosed.
VALHALLA, N.Y. — GE Real Estate has provided a $16.5 million on book loan for the acquisition of a three-story Class A office building in Valhalla in Westchester County. Abbey Road Advisors and Guardian Life Insurance Co. of America have acquired the 98,026-square-foot building along with four other subdivided lots totaling 27 acres. Located at 465 Columbus Ave., the building’s largest tenant is the New York City Department of Environmental Protection.
AUSTIN, TEXAS — Hines, a commercial real estate development firm, is developing a new museum facility for The Austin Museum of Art (AMOA) located at Fourth and Guadalupe Streets in downtown Austin. The museum, which will be a three-story, 40,000-square-foot facility, is one piece of a two-part project by Hines. The museum development also will feature a 30-story, 425,000-square-foot office building located one block South of Republic Square called Museum Tower, which will be the first LEED-certified project in downtown Austin. Pelli Clarke Pelli will serve as architect for both projects.
SUGAR LAND, TEXAS — Live Oak Capital Ltd., a commercial real estate mortgage banking firm, has arranged fixed financing on behalf of Fidelis Realty Partners Ltd. for the Frost Bank building located at 8410 Highway 90A in Sugar Land. The 1.74 acre site includes a 17,575-square-foot office building and an 815-square-foot motor bank. Financing was arranged through ViewPoint Bank in Houston, which structured a 75 percent loan-to-acquisition cost with a 10-year term, 30-year amortization and a fixed interest rate of 6.5 percent.
MIAMI — Hyundai Mobis Corp. has acquired 18 acres in Beacon Lakes Business Park from AMB Codina Beacon Lakes LLC for the future site of its 400,000-square-foot Latin American Service Parts headquarters in Miami, for an undisclosed price. The property is located on the southwest corner of NW 17th St. and NW 132nd Ave. John Vaught and Elsa Heredia of CB Richard Ellis’ Miami Airport office represented the buyer. David Albert of Flagler Real Estate’s Miami office represented the seller.
ARLINGTON, VA. — The United States Patent and Trademark Office has signed a 10-year lease for a 168,468-square-foot office space at Randolph Square in Arlington from Transwestern Monument Randolph Square LLC, a joint venture of Washington, D.C.-based Monument Realty and Chicago-based Transwestern Investment Co. Randolph Square, a 9-story, 208,000-square-foot office complex, is located at 2800 S. Randolph St. and expected to deliver in April. Matt Bundy and Joshua Masi of Transwestern and Doug Olson and Bethany Allen of Monument Realty represented the landlord. Todd Valentine of Studley’s represented the tenant.